At 40 With a $300K Salary But No Work-Life Balance, How Close Am I to Retirement?

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Key Points
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A person who posted on Reddit is tired of their work and intends to resign.
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The issue is, he’s spending $200K, which is quite a substantial amount, just for replacements.
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He isn't prepared to call it quits on work just yet and has to ensure his inclusive investments will sustain him for many years ahead.
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Before stepping down from work, it's essential to ensure you have sufficient resources to sustain yourself over an extended period—particularly if you decide to stop working when you're merely in your forties. The Reddit user is attempting to determine whether they feel prepared. , and he posted his information in a thread to gather insights on whether he could end his career prematurely.
The Reddit user is 40 years old and earns an annual gross income of $300K. Due to residing in a region with a high cost of living, they spend $200K each year despite their main residence being fully paid for. They have $2.6 million invested in real estate which generates $40K yearly, possess $2.4 million in a brokerage account, and hold $2.1 million in an IRA.
He despises his job and mentions that he lacks a proper work-life balance. Considering he has substantial wealth and feels exhausted from working, he’s contemplating how soon he can resign. Unfortunately, it might take more time than he hopes for him to reach this point.

Why might the OP have to delay retiring for an extended period?
The original poster faces several issues when it comes to retiring prematurely.
The initial issue is that he won't have access to his IRA for some time if he decides to retire soon because these funds generally cannot be used before reaching 59 years and six months without facing significant penalties.
Without access to that account, he essentially would have to rely on his brokerage account and real estate investments for financial support.
The positive aspect of this situation is that his retirement savings will continue to grow. However, the negative side is that he would have to rely on $40K from real estate investments along with the $88,800 annually provided by his brokerage account for his livelihood. safe 3.7% withdrawal rate . That's not nearly enough to cover his $200K in spending -- especially since early retirement comes with a host of add-on costs like private health insurance without an employer subsidy to help defray the expense.
Having millions in the bank might seem insignificant, yet retiring at age 40 implies you probably won’t accumulate three and a half decades of substantial income. Given that Social Security benefits are determined using your top 35 earning years adjusted for inflation, this person could receive considerably reduced support were they to stop working at 40. Consequently, they will heavily depend on their savings instead, increasing the importance of ensuring those funds endure over time.
When will he be prepared to step down from his job?

The original poster will probably have to work for quite some time due mainly to high expenses and partly because some funds, particularly those put into property investments, aren’t yielding substantial returns.
Since he’s tired of his job, he has several potential courses of action. He could significantly cut expenses so his savings will sustain him financially. Alternatively, he might choose to extend his working period to ensure that his available resources yield an essential $200K annual income. Consulting a financial advisor would be beneficial; they could assist him in making this decision considering his asset distribution and his appetite for risk.
In the end, the original poster aims not to leave their workplace prematurely, particularly since they invest significant effort. Ensuring they reach an appropriate point before departing from their job should prevent them from experiencing substantial remorse later on.
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